Three arrests are made following this month’s superstar Twitter hack, Microsoft could also be working to accumulate TikTok’s U.S. enterprise and Fb launches licensed music movies. Right here’s your Every day Crunch for July 31, 2020.

The massive story: Florida teen arrested in Twitter hack

In a hack earlier this month, high-profile Twitter accounts like Apple, Elon Musk, Barack Obama and Joe Biden had been compromised and posted messages selling a cryptocurrency scheme. Now an investigation by the FBI and Division of Justice has resulted in three arrests: Mason Sheppard of the UK, Nima Fazeli of Orlando and a 17-year-old Tampa resident.

The Tampa teen was described by the state legal professional’s workplace because the hack’s “mastermind” and is dealing with 30 felony costs. He allegedly made greater than $100,000 in a single day because of the hack.

“These crimes had been perpetrated utilizing the names of well-known folks and celebrities, however they’re not the first victims right here,” mentioned Hillsborough State Legal professional Andrew Warren in an announcement.

The tech giants

Report: Microsoft in talks to purchase TikTok’s US enterprise from China’s ByteDance — President Trump has plans to order China’s ByteDance, the proprietor of hit social video app TikTok, to divest from the corporate, in line with Bloomberg.

Secret paperwork from US antitrust probe reveal large tech’s plot to regulate or crush the competitors — We’ve collected the almost 500 pages of proof made public throughout the Home Judiciary’s marathon listening to, with added context, in a searchable model.

Fb will launch formally licensed music movies within the US beginning this weekend — The U.S. launch is enabled by Fb’s expanded partnerships with prime labels, together with Sony Music, Common Music Group, Warner Music Group, Merlin, BMG, Kobalt and different independents.

Startups, funding and enterprise capital

Genomics startup Helix receives $33 million in NIH funding to scale COVID-19 testing — The funding might be used to assist Helix’s efforts to scale its COVID-19 testing efforts, with the purpose of attaining a fee of 100,000 exams per day by this fall.

Self-driving startup Argo AI hits $7.5 billion valuation — The valuation was confirmed Thursday, almost two months after VW Group finalized its $2.6 billion funding in Argo AI.

The iron rule of founder compensation is useless — The most recent episode of Fairness discusses Y Combinator Demo Day going each digital and stay.

Recommendation and evaluation from Additional Crunch

Working to grasp Affirm’s reported IPO pricing hopes — Information broke final night time that Affirm, a well known fintech unicorn, might strategy the general public markets at a valuation of $5 to $10 billion.

Alternatives (and challenges) in church tech — Investor Will Robbins argues that this is likely to be the right time for church tech firms to thrive.

(Reminder: Additional Crunch is our subscription membership program, which goals to democratize details about startups. You possibly can enroll right here.)

Every little thing else

Ford Bronco reservations surpass 150,000 — The reception to Bronco 2021 — Ford’s flagship collection of 4×Four autos that was revealed earlier this month — surpassed the corporate’s most optimistic preliminary projections, Ford’s CEO mentioned in an earnings name.

What does accountability seem like in 2020? — Rae Witte discusses what occurs after an organization will get known as out.

The Every day Crunch is TechCrunch’s roundup of our greatest and most necessary tales. When you’d prefer to get this delivered to your inbox daily at round 3pm Pacific, you may subscribe right here.

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